Six of top 10 firms lose R19,000 cr in Midcap

As many as six out of the top-10 most valued companies lost over Rs19,000 crore from their market capitalisation last week.

However, state-run companies ONGC, NTPC, State Bank of India and private outsourcing firm Tata Consultancy Services together added Rs15,623 crore in their market cap for the week ended 26 September.

The country’s most valued firm, Reliance Industries saw the highest erosion in value losing Rs7,924.44 crore from its market cap, taking the total loss to Rs3,35,202.83 crore at the end of the week.

Mukesh Ambani Group company RIL’s market cap stood at Rs3,43,127.27 crore for the week ended 19 September.

Further, the market cap of trading major MMTC declined by Rs5,854 crore to Rs1,68,851.25 crore. While, power firm NTPC climbed to the third slot from fourth after adding Rs2,803.45 crore, taking its total market valuation to Rs1,75,257.25 crore.

Meanwhile, State-run oil firm ONGC’s market cap swelled by Rs1,411.66 crore to Rs2,47,531.43 crore. At the same time, private telecom services provider Bharti Airtel saw its market valuation erode by Rs645.46 crore to Rs1,57,322.07 crore.

Markets witnessed four day trade last week as Monday was a holiday.

The country’s largest iron ore producer, NMDC’s market valuation shrunk by Rs2,160.76 crore to Rs1,41,401.03 crore.

Public sector lender SBI climbed to the seventh position after adding Rs8,247.1 crore to its market cap, while IT bellwether Infosys Technologies slipped to the eight slot after losing Rs1,418.33 crore from its market valuation.

The total market cap of SBI stood at Rs1,35,810.36 crore and Infosys at Rs1,28,669.16 crore.

Top outsourcing firm, TCS added Rs3,160.88 crore to its market valuation, while power equipment-maker Bhel lost Rs1,089.18 crore from its market cap.

The total market cap of TCS stood at Rs1,14,897.43 crore and Bhel end the week with a total market valuation of Rs1,09,926.61 crore.

Apart from top-10 coveted firms, private sector lender ICICI Bank lost Rs405.26 crore from its market cap, while HDFC Bank added Rs4,064.47 crore to its market valuation.

At the end of week, total market cap of ICICI Bank stood at Rs93,378.11 crore and HDFC Bank at Rs68,675.43 crore.

In the club of top-10 firms, RIL is followed by ONGC (Rs2,47,531.43 crore), NTPC (Rs1,75,257.25 crore), MMTC (Rs1,68,851.25 crore), Bharti Airtel (Rs1,57,322.07 crore), NMDC (Rs1,41,401.03 crore), SBI (Rs1,35,810.36 crore), Infosys (Rs1,28,669.16 crore), TCS (Rs1,14,897.43 crore) and Bhel (Rs1,09,926.61 crore), in that order.